FSCO's Performance Standards detail the approach used in delivering on FSCO's mandate and priorities through linkages between performance measures and the attainment of long-term outcomes. The measures are used to gauge the success of short-to-medium term activities against long-term targets.
FSCO's
Performance Management Framework ensures that we provide greater transparency, accountability and value-for-money, that we measure what we do and focus on results that matter, and, that we define success and deliver on our outcomes. The service standards below are a component of FSCO's Performance Management Framework.
As part of its commitment to high quality, cost-effective services to its customers, FSCO will strive to achieve the service standards listed below. We will monitor our performance regularly against these standards and report results annually. New standards will be added as they are developed.
The Government of Ontario has a set of Common Service Standards for telephone, correspondence and in-person locations which FSCO adheres to.
- All correspondence will be answered within 15 working days of receipt.
- If a conclusive response is not possible within the standard time, an interim acknowledgement will be provided within 5 working days of receipt.
For Quality Service complaints regarding the manner in which FSCO provides its services, including whether they were provided in an accessible manner:
- Complaints received in writing or through our website will be acknowledged within 5 business days*
- Complaints received in person or by telephone will be acknowledged within 2 business days*
- Complaints will be concluded within 15 business days
* where a reply is requested and contact information for the complainant has been provided.
For Sectoral complaints regarding one of the sectors that FSCO regulates:
- Complaints will be acknowledged within 5 business days
- 90% of all complaints will be concluded within 150 days
- 98% of all complaints will be concluded within 365 days
Applications for Insurance Agent Licences
FSCO will review and approve complete applications that meet all suitability requirements for obtaining a licence in accordance with the following service standard.
| New & renewal Insurance Agent Licences |
5 |
*This standard does not apply to paper applications or applications that use a cheque as a method of payment for a licence. Longer processing time is required for these types of applications.
To apply for an insurance agent licence, please visit the main portal of Licensing Link, FSCO's online licensing system.
Applications for Defined Benefit Pension Plans
FSCO will review and approve complete and compliant Defined Benefit Pension Applications in accordance with the following service standards. More information regarding the Defined Benefit Application Process is available in the Pension section of our website.
| Surplus |
150 |
| Wind up |
120 |
| Transfer of assets |
120 |
| Refund of employer overpayment |
90 |
| Refund of member contributions |
60 |